There are a lot of do’s and don’t out there.
Point is, there is no wrong or right way to budget your money.
Believe it or not, I used to be afraid of looking at my debt, my lack of savings and my poor organizational skills.
My fear was like the one you get when you are about to go on stage for the first time.
It wasn’t until I sat down with myself and created a plan, that things started changing for the better!
Mainly, because I got out of my own way. I came to the realization that my purpose was much greater than my fear.
1. Do NOT feel guilty about your debt
2. Do NOT stress out about money
3. Do NOT set STRICT spending rules
1. DO make a debt payment plan
You need to put pen to paper for this!
This step is not about paying off debt but rather creating a plan to pay it off.
It’s important to not only look at your full debt picture but to learn the money management skills
Determine what method you are going to use to pay off your debt and create a list of all of your debts.
Include creditor, balance owed, interest rate, minimum payment and due date.
2. DO make a budget for your next paycheck
You need a plan for every dollar you make. You want to use one of these every single time you get paid.
If you’re paid:
- Once a month, use 1
- Biweekly, use 2
- Weekly, use 4
3. DO match your spending to your priorities
Click the link below, I’ve given you one for free!
Writing your savings goals down is important, but it’s even more important to identify.
Make a list of your savings goals aka sinking funds.
They can include:
- Vacation, gifts, car maintenance, taxes, self care, luxury, laptop, new phone, washer/dryer, etc
If you’re currently struggling from debt or are looking to take control of your finances, there are a number of life changes and budgeting tips that can help solve your problems.
Although it may seem hard to turn around a sinking ship, I build you a 3-month budget for $49.97 in 2 business days. CLICK HERE NOW.
The thing that makes those millionaires more successful with feeling the fear and doing it anyway- is that they reflect, create checkpoints and set goals. If you are struggling with budgeting, I totally get it.
Do not just go with the flow. CHECK YOURSELF. I believe in you, and I am here for you.